The total investment amounts to $3.97 billion Japanese steelmaker Nippon Steel has begun transitioning from blast furnace production to electric arc furnace (EAF) production at its Kyushu Works facility, marking a significant step in its decarbonization strategy. This was reported by Japan Metal Daily. The new EAF will have a capacity of approximately 2 million tons per year and is expected to begin production in the first half of the 2028/2029 fiscal year. The company is positioning this project as the world’s first integrated system for the mass production of high-quality steel using a large-scale electric arc furnace. It also includes secondary refining and continuous casting facilities. The total investment amounts to 630.2 billion yen ($3.97 billion), with the upper limit of government support set at 179.9 billion yen. The company also plans...

Rising costs and weak demand have limited production, and March was the worst month for the industry since 2020 Steel production in China fell by 4.6% y/y in the first quarter of 2026, to 247.55 million tons. This is according to data from the country’s National Bureau of Statistics, as reported by TradingView. The downward trend intensified in March, when output fell by 6.3% year-on-year – to 87.04 million tons, marking the lowest figure for that month since 2020. Average daily production stood at 2.81 million tons, compared to 2.99 million tons a year earlier. The key factor behind the decline was the deterioration of steelmakers’ margins. In the first quarter, raw material costs rose, particularly due to higher iron ore prices, which were supported by high freight rates amid the conflict in the Middle East and restrictions on shipments through t...

Exports of these products, in particular, were slowed by the decline in steel production in China In the 2025/2026 fiscal year (ending March 31), India reduced its exports of iron ore and pellets by 15% year-over-year, to 25.78 million tons, according to data from BigMint. Exports of fine and lump ore for the period totaled nearly 22.31 million tons (-3% year-on-year), while overseas sales of pellets are estimated at 3.47 million tons (-53% year-on-year). In the 2025/2026 fiscal year, India sold iron ore primarily to China—this country accounted for over 90% of exports of this product during the period. However, the volume of these shipments fell to 24.21 million tons compared to 27.8 million tons in the previous fiscal year. Iron ore exports from India were slowed by the decline in steel production in China in 2025, the drop in global iron ore prices last ...